Ann: Change of Director's Interest Notice - Smyth, page-20

sorry Madau...you seemed to have missed my earlier post...
as pointed out previously...the only layer of truth is that released to the market...so the assumption will remain that Antwalker is in the plan!

Madau, to start with the positives...
- good commodity
- good projects? (lets not get ahead of ourselves...some look good but a lot of work...and approvals to do yet)

WRT Antwalker...
- the development plan was laid out in the prospectus and it is what we will deal with until...new information is released to the ASX.
- there has been no change or update to that plan released to the ASX, and therefore...no change of plan...
- maybe you should ask Allup what was outlined and described in the Antwalker Conservation Management Plan submitted to DMIRS? I would be surprised if it doesn't relate to and refer to the Antwalker exploration target shown in the prospectus?
- yourself and others keep saying that the exploration effort and subsequent mine will be in farm land in the NW corner of the Antwalker tenement. I really don't think there is the room there...without removing the existing landowner and aquaculture business.


The encumbrances... (you did your research...no surprise here)
E70/5455 (Antwalker) was applied for over two years ago and is yet to be granted. It is held up by DWER and DBCA due to a raft of issues, such as:
- It lays within the Warren catchment and the Quinninup dam catchment area, protected under the Country Areas Water Supply Act.
- the exploration target as defined by Allup is in DBCA managed state forest, much of which is old growth forest.
- the resulting open pit would destroy Little Quinninup Brook with a 25m+ deep pit void. Permanently interrupting the stream flow into the adjacent Dordagup National Park and Lake Katherine as there would be very little waste to return to the pit void.
- a mine closure plan would struggle to successfully address the rehabilitation of the deforested 25m+ deep pit void in a river valley.
- <1000m from residences with all the associated approvals and hurdles that would entail.

This all points to a heavy burden of permitting and approvals, and that's before you address the community concerns...which are many.
Antwalker looks very difficult to bring into production when compared to Allups other projects...an unnecessary burden on a new startup!

Note: Allup exploration target (from prospectus) overlaid on what is...State Forest...much of which is old growth forest